All Forum Posts by: Puri Indah

Hello BP Nation,

I have a hypothetical question:

If you have $1M worth of property sale in San Francisco and you'd like to 1031 it out of State for an A class Multi-Unit(s), where would you buy and why? 

Thank you.

I wasn't actually asking about the process itself, more if anyone has successfully done that knowing the challenge of buying (not selling). It is easy to sell a vacant unit in SF, but hard to find one of the same kind. Definitely challenging to do both at the same time. 

Did anyone ever do a 1031 Exchange in San Francisco? I'm thinking about doing this for a 3-unit (vacant) building for probably a duplex also vacant. Both should be in the same ballpark in terms of prices. Just not sure if it is possible or how complicated it could be.

Would appreciate info/advice.

Thank you!

Doesn't the buy disqualify you for the condo conversion?

Thanks for all the feedback, guys! We went ahead with the 30 years fixed.

@Joe Villeneuve: to answer your question: cashflow at $2,500/month with 30 years, or $3,000/month with interest only.

Yep, I should have clarified :) Also, income-wise we don't really need an additional $500 by risking not getting a refinance after 10 years. I just wanted to make sure that this is the right strategy, or what most of you would do as sometimes I'm clueless with these stuff :)

 Oops sorry. So cashflow at $2,500/month with 30 years, or $3,000/month with interest only.

 $500/month more with interest only..

I have $340K left on my rental mortgage and I'm refinancing it now.

Got 2 options:

1). 30 years fixed at 3.70% or $1,565 monthly payment

OR

2). 10 years interest only at 3.65% or $1,030 monthly payment.

I have no W2, so refinancing after 10 years maybe a bit of a challenge.

What would you do?

 Not entirely true. Techies in SF (nothing against them) make tons of money, many cases much more than their moms and pops landlords. And still get rent control in their Apartments.